IOS Daily - February 2 - Philly IOS sells for $1.1 million per acre

NEWS ROUNDUP

ACQUISITION: Zenith buys IOS portfolio for $3.5 million. Zenith acquired 5297 and 5331 Highway 42, Ellenwood, GA, part of a portfolio of three IOS properties, in an off-market deal. The properties, which feature a combined 30,000 SQ of warehouse space and 12.35 acres (6 usable), are fully leased to a national tenant. Judd Swartzberg of Swartz Commercial Real Estate represented Zenith in the deal.

ACQUISITION: PECO Energy buys 7 acre Philly area IOS for $7.7 million. PECO Energy has acquired 480 South Gravers Road in Plymouth Meeting, PA, in a deal valued at $1.1 million per acre. The 7 acre property is currently vacant and includes a 13,700 SF service building. The seller was a private individual, and the Newmark deal team representing the seller included Mitch Russell, Justin Bell, and Ryan Guittare.

LEASE SIGNED: Newmark leases warehouse space with yard in Pittsburg, CA. Newmark has leased 95,092 SF of office/warehouse space and approximately 2 acres of yard space to a single tenant. The property is located at 1501 Loveridge Road in Pittsburg, a Bay Area suburb. There is still warehouse and yard space available for lease at the address. The Newmark deal team included Kris Hagar and Tyler Epting. Bo Harkins of CushWake represented the tenant. Nick Zankich of Hall Equities assisted in the deal.

LEASE SIGNED: IOV leases 0.9 acres of IOS in Montclair, CA. Industrial Outdoor Ventures leased the remaining portion of a 2.8 acre IOS property at 4187 State Street in Montclair to Mission Steel Fabrication. The location includes 12,000 SQ of warehouse and office space, along with a fully paved, lit, and secured yard. IOV was represented in the deal by Ryan Turnquist and Mat Skogebo of Lee & Associates. Ben Backer with IOV ran the deal.

READ: UPS to slash 12,000 jobs, considers selling freight brokerage.

FOR SALE: Smithfield, UT - 74,420 SF warehouse + 4 acre IOS

Address: 881 South 200 West, Smithfield, UT 84325

Features: Class A industrial warehouse, 3 phase power, utilities, parking space, 480v, 1600-amp power 

Close To: I-15, I-84, Hwy 89, Hwy 91

Buildings: 74,420 SF warehouse, 1,800 SF office, 12 dock doors, 4 grade level doors

Zoning: M-1 (industrial)

Asking Price: $14,000,000

FOR SALE: Phoenix, AZ - 1.13 acre IOS

Address: 2820 S 36th Street, Phoenix, AZ 85034

Features: Water, sewer, and SRP electric on site, crushed aggregate/ABC base ground covering in place

Close To: I-10, SR-143, Loop 202, Sky Harbor Airport

Zoning: A-2 (heaviest industrial zoning in Phoenix)

Info: LINK

Asking Price: $1,500,000 ($30 per land square foot)

FOR SALE: Dayton, OH - 6.93 acre IOS

Address: 5900 Webster Street, Dayton, OH 45414

Features: Graded and ready for development

Close To: I-70/I-75 major interchange, Dayton International Airport

Zoning: I-2

Info: Link

Asking Price: $960,000

FOR LEASE: Smithfield, UT - 4 acre IOS + 37,200 SF warehouse space

Address: 881 South 200 West, Smithfield, UT 84325

Features: Gravel, fenced, gated, 3 phase power available, utilities on site

Close To: I-15, I-80, I-84, Salt Lake City

Buildings: Up to 37,200 SF of warehouse space is available

Zoning: M-1 (industrial)

Asking Price: $2,000/acre/month NNN for yard space, $0.75/SF/month NNN for warehouse

FOR LEASE: Channahon, IL – 6.8 acre truck parking

Address: 3581 Amoco Road, Channahon, IL 60410

Features: Fully fenced, LED lighting, keypad entry/exit, concrete drop pads, cameras, assigned spaces, electric plug-ins, snow removal, CSX rail spur access.

Close To: I-55, I-80

Zoning: M-2

Asking Price: $225 per spot/month

FOR LEASE: North Miami Beach, FL - 1.15-1.59 acre IOS

Address: NW 166 Street and NW 1st Avenue, North Miami Beach, FL 33169

Close To: I-95, 826, Turnpike, Fort Lauderdale–Hollywood International Airport, Miami International Airport

Info: LINK

Asking Price: $20,000/month NNN